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[Reserved for Recording Data] <br /> RIGHT OF RE-ENTRY AGREEMENT <br /> This Right of Re-entry Agreement is entered into on , 2022, by and <br /> between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and COR <br /> Trust Bank,N.A., a South Dakota Corporation ("Buyer"). <br /> Recitals <br /> A. On , 2022, Seller conveyed title of the following Property <br /> to Buyer: <br /> Part of Outlot C,Affinity At The COR, to be platted as: <br /> T.B.D. Anoka County, Minnesota <br /> PID Number: Portion of 28-32-25-24-0017 ("Property") <br /> B. Title to the Property was conveyed subject to Buyer fulfilling certain Conditions <br /> as set forth below. <br /> C. As indicated in the Purchase Agreement between the City of Ramsey and COR <br /> Trust Bank, N.A., with an Effective Date of , Section 28, it is the <br /> intent of the parties to create and set forth a right to impose a penalty or a right of <br /> re-entry in favor of Seller in the event Buyer fails to satisfy the Conditions. <br /> Agreement <br /> 1. The recitals are incorporated herein as if fully set forth. <br /> 2. Seller shall have the right, but not the obligation, to either impose a penalty against <br /> the Property pursuant to Paragraph 3, or to re-enter and take possession of the <br />